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NEW YORK (AP) - Some of the newest exchange-traded funds seem to resemble their predecessors about as much as a svelte Toyota Camry looks like a lumbering Model T.
But as with those dissimilar vehicles, many types of ETFs are capable of taking investors where they need to go. Investors just need to find something they are comfortable with and recognize whether an ETF makes sense for a chunk of their portfolio or perhaps only a thin slice of it.
An ETF is a security that tracks an underlying benchmark much like an index mutual fund but trades like a stock on an exchange. It can therefore be bought and sold during the trading day and can boast low expenses.
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